October 5th Mortgtage Market Wrap-up 2

Mortgage backed securities (MBS) closed down 31 basis points at 102.41 today having falllen through support at the 102.50 level.  MBS bonds do remain, howerver, 42 basis points above the 25 day moving average which has proved to be a stalwart support level in the past.  Some moderate news came in from Europe  about shoring up the banking system so that it might be able to endure situations like that in Greece.  Friday's jobs number is this week's major event.  Bonds are not likely to move too much prior to that.  The 30 year fixed was available at 3.875% today.